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ABC
Dec 31, 2012 5:30pm PST
the president just had to say in front of a pep rally. >> he comes out and calls people together and has a group standing behind him, laughs and jokes and ridicules republicans, what is -- why? >> reporter: if a deal finalized, and if passes congress, two big ifs, it would extend tax cuts for all workers under $400,000, prevent a big tax hike on estates under $5 million and extend unemployment benefits set to expire tomorrow for some 2 million people. so, the scramble continues tonight. congressional leaders trying to get to a deal that would pass both the house and the senate sometime over the next 24 hours or so, david. >> jon, stick with us here. i want to show the viewers at home that beautiful red and white crystal ball prepared to come down in times square tonight, blue and green, it changes colors as we look at it. the bottom line is, when that ball drops tonight, every american's taxes going up? >> reporter: that is exactly right. they will go up as of midnight. they are going to try to come back and fix it, but as of midnight tonight, everybody's taxes go up. >> all right, jon karl on t
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